http://www.cpf.gov.sg Let's Buzz - Tax Planning and Estate Planning http://www.cpf.gov.sg/imsavvy/forum/forums/thread-view.asp?tid=69 http://www.cpf.gov.sg/imsavvy/forum/forums/thread-view.asp?tid=248
Reference to https://incnet.income.com.sg/uiwillclient/willguide.pdf, it mentioned that there are 2 kinds of gift, specific and general.

How do we write a specific gift of property to their children and both parents pass away? Or can this be done with just general gift?

Pls advise.]]> http://www.cpf.gov.sg/imsavvy/forum/forums/thread-view.asp?tid=145 http://www.cpf.gov.sg/imsavvy/forum/forums/thread-view.asp?tid=61
http://www.mof.gov.sg/taxation/srs.html

SUPPLEMENTARY RETIREMENT SCHEME (SRS)

The SRS is part of the Singapore government’s multi-pronged strategy to address the financial needs of a greying population, which were highlighted in the Report of the Inter-Ministerial Committee (IMC) on the Ageing Population, released in November 1999.

The SRS complements the Central Provident Fund (CPF). CPF savings are meant to provide for housing and medical needs and for basic living needs after retirement. Unlike the CPF scheme, participation in SRS is voluntary. Participants can contribute a varying amount to SRS (subject to a cap) at their own discretion. The contributions may be used to purchase various investment instruments.

With the SRS, the government hopes to encourage Singaporeans to save more for their old age, by means of voluntary contributions to their SRS accounts. The SRS will be effective from 1st April 2001. It will be operated by the private sector.

The SRS offers attractive tax benefits. Contributions to SRS are eligible for tax relief, investment returns are accumulated tax-free(with the exception of Singapore dividends from which tax is deducted or deductible by the payer company under section 44 of the Income Tax Act) and only 50% of the withdrawals from SRS are taxable at retirement.]]> http://www.cpf.gov.sg/imsavvy/forum/forums/thread-view.asp?tid=108 Saw this article and many others related to budget 2010.
Feel quite sian that there isn't anything much for normal taxpayers like me.. :( what are your views about this year's budget? ]]> http://www.cpf.gov.sg/imsavvy/forum/forums/thread-view.asp?tid=103
I didn't know that we can call the shots from the grave. Even how we want to plan for our funeral can be written in the will. Interesting!! :thumb up:

]]> http://www.cpf.gov.sg/imsavvy/forum/forums/thread-view.asp?tid=60
Why is it that a Will cannot direct how the CPF Balances is to be distributed? Why a CPF Nomination has to be done?

On the other hand, why CPF monies used under CPFIS do not come under the CPF Nomination but comes under the Will?

If a person wants to do the following

(1) If I die, I want to give my assets to my wife
(2) But if my wife dies before me, my assets are to be given to my son

The above can be easily done under a Will but cannot be done under CPF Nomination. The CPF Nomination cannot cater for such "if-else" contingency.]]> http://www.cpf.gov.sg/imsavvy/forum/forums/thread-view.asp?tid=64
What is the purpose of tax planning? :help:]]> http://www.cpf.gov.sg/imsavvy/forum/forums/thread-view.asp?tid=80 http://www.cpf.gov.sg/imsavvy/forum/forums/thread-view.asp?tid=59
Arising from the feedback received from moneymanager and mrbonez (http://www.cpf.gov.sg/imsavvy/forum/forums/thread-view.asp?tid=50&posts=3&start=1), we have created this new topic for discussion.

Hope to see your buzz!

Cheers,
IM$avvy Site Admin]]>